price is the only determinant of demand
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Answer:
price is the considered to be only determinant of demand in Lwa of demand.
Explanation:
Price is not only determinant of demand , it is one of the determinant to demand.
It is assumed to be Ceteris paribus (other things remaining constant ) and price is only determinant of demand in " Law of Demand".
Law of demand shows functional relation between price and quantity demanded.
Dₓ = f (Pₓ)
It states that there is a inverse relation between price and quantity demanded.
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